Offshore NZ Drill Reaches Almost 16,000-ft But No Shows

A total depth of 15,899 feet has been reached in the Matuku well in the PEP 51906 field offshore Taranaki. The next operation, say 'The Explorers' New Zealand Oil & Gas, is to pull out of the hole prior to running wireline logs.

The drillers inform that the primary target in the Matuku well, Kapuni Group Farewell F Sands, were found to be porous but there were no significant gas or oil shows. Oil shows were seen in D Sands and North Cape Formation units deeper in the well.

Meanwhile the 400 square kilometre ‘Kaka’ 3D seismic survey in the same permit was completed the same day, ahead of schedule. This survey began on 5 January, 2014 using the survey vessel Polarcus Alima and will will provide valuable information about the Paleocene Farewell and Eocene Mangahewa Formations. This dataset along with the Matuku well results should assist in understanding the source of the Tui, Maui and Maari fields neighbouring PEP 51906.

Geoscientists will now analyse these results to form a view about the play types around the Kahurangi Trough, which was thought to be a source kitchen for a success case at Matuku.

Participants in PEP 51906 are OMV New Zealand (Operator) 65 per cent; Octanex 22.5 per cent; and New Zealand Oil & Gas 12.5 per cent. OMV New Zealand are paying 100% of the Matuku-1 well costs under the conditions of their farm in agreement with Octanex.